WASHINGTON – During its October 2023 virtual meeting, the Egmont Group of Financial Intelligence Units (FIUs) agreed to suspend Rosfinmonitoring, Russia’s FIU, from membership with the group due to Russia’s invasion of Ukraine. This official suspension comes on top of previous Egmont Group measures to revoke Rosfinmonitoring’s formal group leadership, advisory, and representative positions, ability to host meetings, ability to physically attend meetings, and in-kind agreements. In response to this important measure for international cooperation, Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson issued the following statement:
“The United States commends the Egmont Group’s historic decision to suspend Russia’s membership in the body. As the Chair noted, ensuring cohesion in the AML/CFT ecosystem is critical to its interests and objectives. Russia’s disregard for the sovereignty and territorial integrity of Ukraine is at odds with the spirit of international cooperation and the rule of law, and its government-driven efforts to evade international sanctions and export controls make it a haven for illicit finance – the very thing Egmont Group members work so hard to stop.”
About the Egmont Group
The Egmont Group is designed to improve communication, information sharing, and training coordination amongst its FIU members. Its goal is to provide a forum for member FIUs to improve support to their respective governments in the fight against money laundering, terrorist financing, and other financial crimes. The Egmont Group supports its FIU members by helping them to expand and systematize the exchange of financial intelligence and information, improve expertise and capabilities of personnel, and enable secure communication with one another. The Egmont Group also supports the efforts of other international stakeholders on anti-money laundering and combating the financing of terrorism (AML/CFT), including the United Nations Security Council, the Financial Action Task Force, and the G20 Finance Ministers. For more information, click here.